Mere entry in the books of accounts and classifying the said ...

Classifying a payment as capital in books doesn't determine its nature; facts must decide if it's capital or revenue.

December 25, 2017

Case Laws Income Tax AT

Mere entry in the books of accounts and classifying the said payment as capital, i.e., it has been capitalised in the books will not at all be determinative as it has to be seen on the facts whether such a payment or expenditure falls in the capital filed or revenue field. - AT

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Mere entry in the books of accounts and classifying the said ...

Classifying a payment as capital in books doesn't determine its nature; facts must decide if it's capital or revenue.

December 25, 2017

Case Laws Income Tax AT

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